XE-1 very expensive compared to DSLR?

Doesn't one think that the X-E1 is quite expensive? Here in Europe I have to pay €1,500 for a X-E1 with the 35mm f1.4. One can get a Canon 550d/T2i with the 50mm f1.8 for €450. That is less than 1/3d of theX-E1.

Sure, there are some differences but when it come to Image Quality, a Canon 550d with 50mm gives some fine output. Sure , it ain't f 1.4 and there is no EVF, but still. € 450 versus € 1,500...